Fund managers
Reaching European capitalis harder than it should be.
Yooro wraps your fund in a Luxembourg security with an ISIN. European professional investors subscribe from EUR 25K and hold it at their own bank. Your fund doesn’t change.
- Notes issued
- 20
- Assets under service
- USD 85M+
- Professional investors reached
- 100+
- Operating since
- 2024
Banking withBaader BankUniCreditBanca Patrimoni SellaBanca Investis
The problem
European wealth wants private markets. Five walls stand in the way.
Direct, through an EU feeder or an offshore feeder, non-EU funds hit all five. EU funds with a marketing passport still hit four.
All funds Also EU funds with a marketing passport
- in European assets under management
- EUR 33tn
- affluent investors hold zero private markets
- 1 in 4
Source: EFAMA, Asset Management Report 2025 (PDF, opens in a new tab), 17th edition, December 2025, pp. 7 and 30, including the Novantigo Private Banks and Wealth Managers Fund Selectors Survey, Q2 2025.
Fragmented access
Private placement rules change country by country, and legal work multiplies with every market.
Minimums that exclude
EUR 100K+ tickets shut out the mid-ticket professionals who would allocate.
Gatekeeper economics
Distributors take 20 to 30% of management fees, or nobody makes the fund available.
Slow subscriptions
Two to four weeks between commitment and cash loses investors.
Custody refusal
Wealth managers avoid what their custodian can’t hold.
Imagine instead: your fund from EUR 25K, held in custody like any security, subscribed in days.
Why a security
The legacy routes leave the walls standing.
Direct private placement and feeders each trade away reach, speed or economics.
| Legacy routes | ||||
|---|---|---|---|---|
| What you need | Yooro security | NPPR direct | EU feeder | Offshore feeder |
| Setup time | Days | partial | poor | partial |
| Setup cost | good | partial | poor | partial |
| EU cross-border reach | good | poor | partial | poor |
| Custody-friendlyBanks can onboard, buy and hold it | good | partial | partial | poor |
| Minimum ticket | From EUR 25K | poor | partial | poor |
| Ops burden on the fund | One investor of record | poor | partial | partial |
The solution
Your fund, as a security banks can hold.
Yooro issues EU bankable notes from a ring-fenced compartment of its Luxembourg securitization vehicle. The notes track your fund. Live today.
Compartment created
A dedicated, ring-fenced compartment is set up in Yooro’s Luxembourg vehicle.
Notes issued
The compartment issues debt securities with an ISIN to professional investors.
Fund exposure gained
Proceeds are deployed for full or partial exposure to your fund.
Held in custody
Investors hold the notes at their own bank, like any other security.
Performance delivered
Notes pass through your fund’s performance, less transparent fees.
The outcomeSimpler distributionStreamlined onboardingFamiliar custody channels
What this unlocks
What this unlocks for you.
Reach investors from EUR/USD 25K
Open your fund to mid-ticket professionals excluded by 100K+ minimums.
Get onboarded by banks, not blocked by them
An instrument financial institutions already know how to process.
Keep wealth managers’ AUM on their books
A fully custodial asset banks can onboard, purchase and hold.
Run your fund with one investor of record
Your administrator manages our vehicle, not dozens of subscribers.
Give investors a modern subscription experience
Bank route plus web app, subscription in days, not weeks.
Pay introducers without bleeding fund economics
Distribution fees structured cleanly outside the fund, protecting your margin.
The proof
Rebel Fund went live for EU subscriptions in 2 weeks.
One of 20 notes issued to date. The fund’s structure, documentation and jurisdiction never changed.
Rebel Fund
- to live for subscriptions
- 2 wks
- subscribed
- ~USD 5M
- professional investors
- 15
- countries
- 3
Held in custody at the investors’ own banks, or self-custodied. The compartment sits in the fund as a single limited partner.
We had European investors who wanted access to our second fund and no practical way to give it to them. Their team turned that into a structure those investors could actually hold, without changing anything about our fund.
Economics
Transparent from EUR 2.5M eq. Thinner as you grow.
At EUR 5M+ eq., structural cost runs 0.5 to 0.85% p.a., a fraction of typical feeder economics. For strategies targeting multiples on invested capital, that is immaterial to net outcomes.
Structure & FAQ
Built on Luxembourg law. The questions we get first.
- Ring-fenced by statuteEach compartment is segregated under the Luxembourg Securitization Law of 22 March 2004.
- Professional investors onlyOffered under Prospectus Regulation exemptions, with no public prospectus.
- Pass-through, not a fundOne pre-identified investment per compartment, fixed in the Final Terms.
Structural summary for information purposes. Detailed legal analysis of the regulatory framework available on request.
Is this live today?
Yes. 20 notes issued and USD 85M+ under service. Every note is structured and issued through Yooro’s hosted workflow: structure configuration, pricing, setup coordination and subscription tracking. The self-serve app is on the roadmap; the issuance service is not.
What is the legal basis?
Ring-fenced compartments under the Luxembourg Securitization Law of 2004. Notes are offered to professional investors under Prospectus Regulation exemptions. Single-class issuances without tranching are structured to fall outside the scope of the EU Securitization Regulation (2017/2402).
Is the compartment a fund?
No. Each compartment tracks a single, pre-identified investment fixed in the Final Terms: no further investments, no asset selection, no discretionary management. Noteholders exercise the key decisions on the underlying, so the note passes through both the economics and the investor rights.
Does this trigger AIFMD marketing for my fund?
No. Yooro provides issuance and administration infrastructure and does not promote, place or distribute the notes or the underlying fund. Notes reach investors through licensed intermediaries or at the investor’s own initiative, and are restricted to professional investors.
What happens to noteholders if Yooro ceases operations?
Compartment assets are segregated by statute and out of reach of Yooro’s creditors. A replacement general partner can be appointed to continue the vehicle’s administration.
What does it cost all-in?
From ~1.5% p.a. at the EUR 2.5M eq. minimum to ~0.5% p.a. at EUR 10M eq. See the Pricing page for the full schedule.
Can investors subscribe outside the banking channel?
Optionally, yes. Through the Baund app, professional investors register, complete qualification and subscribe at their own initiative to a tokenized version of your note, in fiat or selected crypto, with the noteholder register on DLT. It is fully additive: the standard bank and custody route needs no tokenization.
Next step
Live for subscriptions
in weeks.
Start with a 30-minute call to scope your fund and target raise.